Case Summary
The plaintiffs, Vijaya Bank and Bank of Baroda, filed a suit against the defendant, M/s. Lush Look, represented by Mumthas Nazar, to recover a loan amount of Rs.3,12,136.30 which was not repaid. The defendant contended that the suit was barred by limitation due to the business failure and lack of ability to repay.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Plaintiff is entitled to realize Rs.3,12,136.30 and interest from the defendant.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff successfully established the existence of the loan and the defendant's default on repayment.
The plaintiff successfully established the existence of the loan and the defendant's default on repayment.
Judgment Evidence:
In the result, suit is decreed as follows: Plaintiff is entitled to realize Rs.3,12,136.30/- from the defendant and from his assets. Plaintiff is entitled to realize interest @10.30% per annum from the date of suit till date decree.
Parties Involved
Plaintiffs
Vijaya Bank (Age not specified years)
Ernakulam North Branch, (Old Specialized N.R.I. Branch), Opp. to Ernakulam Town Railway Station, Ernakulam North
Bank of Baroda (Age not specified years)
Ernakulam North Branch, Banerji Road, Ernakulam
Defendants
Mumthas Nazar (40 years)
Chettaparambu House, MRRWA-38, Masjid Lane,Deshabhimani Road, Kaloor, Kochi-682017
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover Rs.3,12,136.30 from the defendant.
Evidence:
The suit is decreed as follows: Plaintiff is entitled to realize Rs.3,12,136.30/-.
Relief Type:
Damages
Outcome:
Granted
Description:
Plaintiff is entitled to interest on the recovery amount.
Evidence:
Plaintiff is entitled to realize interest @10.30% per annum for Rs.3,12,136.30/- from the date of suit till date decree.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff is entitled to costs of the suit.
Evidence:
Plaintiff is entitled to realize costs of the suit from defendant and from his assets.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Submitted as evidence to establish the loan agreement.
Reference:
Ext.A2
Document Type:
Loan Sanction Letter
Submitted By:
Plaintiff
Relevance:
Provided evidence of the sanctioned loan to the defendant.
Reference:
Ext.A3
Document Type:
Letter of Repayment
Submitted By:
Plaintiff
Relevance:
Demonstrated the terms of repayment agreed upon by the defendant.
Reference:
Ext.A4
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Served as a formal agreement for the loan amount.
Reference:
Ext.A5
Document Type:
Loan agreement cum Hypothecation Deed
Submitted By:
Plaintiff
Relevance:
Established the hypothecation of goods as security for the loan.
Reference:
Ext.A6
Document Type:
Acknowledgment of Liability
Submitted By:
Plaintiff
Relevance:
Confirmed the defendant's acknowledgment of the debt.
Reference:
Ext.A7
Document Type:
Lawyer's Notice
Submitted By:
Plaintiff
Relevance:
Served to remind the defendant of their overdue payments.
Reference:
Ext.A8
Document Type:
Acknowledgement Card
Submitted By:
Plaintiff
Relevance:
Provided proof of delivery of the notice.
Reference:
Ext.A9
Document Type:
Returned Envelope
Submitted By:
Plaintiff
Relevance:
Demonstrated that communication was attempted with the defendant.
Reference:
Ext.A10
Document Type:
Statement of account along with certification
Submitted By:
Plaintiff
Relevance:
Summarized the outstanding amount owed by the defendant.
Reference:
Ext.A11